Core view: Performance grew steadily, and sales increased dramatically. In 13 years, the company achieved main business revenue of 1,575 billion yuan, a year-on-year increase of 30.1%, and net profit of 158 million yuan, an increase of 2.4% over the previous year. The plan is to distribute a cash dividend of 1 yuan for every 10 shares. The balance of accounts receivable currently stands at $1.71 billion, and performance will continue to grow in the face of rising gross profit. In terms of sales, the company achieved contract sales of 2,389 billion yuan for the full year of '13, an increase of 71% over the same period last year. In '13, the company's sales were mainly based on residential projects in Hefei. Among them, the three projects of Amber Famous City, Amber Xintiandi, and Amber Fifth Ring City had the largest sales scale. Among them, some of the Fifth Ring City projects were sold commercially. Expanding the layout and trying to diversify the acquisition of project land, the company obtained a total of 228,500 square meters of land reserves through equity acquisitions and tenders in 2013, involving a total land price of 1,168 billion yuan. In addition, the Chaohu project acquired by the company in 2007 completed 103,300 square meters of land replacement work in 2013. The new projects added this year are still mainly in Hefei and surrounding areas. Furthermore, it opened up the Sanya market for the first time through the acquisition of low-cost public land modification projects. During the short-term capital pressure relief reporting period, under the guarantee of large-scale sales repayments, the company's leverage level was relatively stable, and the net debt ratio dropped slightly to 46% from 62% in 2012. This has a certain relationship with the company's mission goal of actively revitalizing existing products in 2014. The company's EPS for 14 and 15 is expected to be 0.60 and 0.72 respectively, giving the company a “cautious increase in holdings” rating. The company has maintained a strategy of deepening cultivation in Hefei and surrounding regions in recent years. It has achieved good sales results in 13 years. The scale has increased dramatically, and there is a strong guarantee for the release of the company's performance in the future. Benefiting from the reform of state-owned enterprises and the State Council's economic support policy for the Anhui region, the company is expected to enter a rapid development channel in the future. Risk warning policies and the impact of fluctuations in overall market fundamentals on the company's sales and capital chain conditions.